The majority (in the House of Lords) voted to add a new section into the Banking (Special Provisions) Bill[1] which said:

Where an authorised deposit taker is subject to an order made under section 3, or where the property, rights and liabilities of an authorised UK deposit taker have been transferred to a body corporate under section 6, the Office of Fair Trading shall-

(a) lay before Parliament annually a report on the impact of the competitiveness of the market in the UK of the activities of the authorised deposit-taker or of the body corporate to which property rights and liabilities have been transferred (as the case may be); and

(b) report to Parliament as soon as it identifies a significant adverse effect on the competitiveness of the market in the United Kingdom as a result of the activities of the authorised deposit-taker or of the body corporate to which property rights and liabilities have been transferred (as the case may be).[2]

About the Project

The Public Whip is a not-for-profit, open source website created in 2003 by Francis Irving and Julian
Todd and now run by Bairwell Ltd.

There are lots of plans afoot, including extensive redevelopment of the site and plans for new
functionality. To keep up with what's happening, please check out the blog. We're working on updating all the contact
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